Pine Valley Investments Ltd Liability Co Cuts Holdings in CDW Co. (NASDAQ:CDW)

Pine Valley Investments Ltd Liability Co trimmed its position in CDW Co. (NASDAQ:CDW) by 7.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,328 shares of the information technology services provider’s stock after selling 200 shares during the quarter. Pine Valley Investments Ltd Liability Co’s holdings in CDW were worth $405,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Oddo BHF Asset Management Sas purchased a new position in shares of CDW in the 3rd quarter worth $1,629,000. Assenagon Asset Management S.A. lifted its holdings in shares of CDW by 7,549.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider’s stock valued at $44,601,000 after acquiring an additional 252,921 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of CDW by 3.4% in the 3rd quarter. Franklin Resources Inc. now owns 108,009 shares of the information technology services provider’s stock valued at $24,138,000 after acquiring an additional 3,567 shares during the last quarter. Graphene Investments SAS grew its position in CDW by 17.6% in the fourth quarter. Graphene Investments SAS now owns 17,400 shares of the information technology services provider’s stock worth $3,028,000 after acquiring an additional 2,600 shares in the last quarter. Finally, Czech National Bank increased its stake in CDW by 6.2% during the fourth quarter. Czech National Bank now owns 28,895 shares of the information technology services provider’s stock worth $5,029,000 after acquiring an additional 1,685 shares during the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Morgan Stanley raised their price objective on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Redburn Atlantic assumed coverage on CDW in a research report on Friday, November 15th. They issued a “buy” rating and a $230.00 price target for the company. Barclays boosted their price objective on shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Finally, UBS Group reduced their target price on shares of CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $242.67.

CDW Stock Performance

CDW stock opened at $180.23 on Thursday. The firm has a market cap of $24.02 billion, a price-to-earnings ratio of 22.61, a PEG ratio of 3.21 and a beta of 1.01. CDW Co. has a twelve month low of $168.43 and a twelve month high of $263.37. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. The business’s fifty day simple moving average is $186.62 and its two-hundred day simple moving average is $199.43.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, topping the consensus estimate of $2.33 by $0.07. CDW had a net margin of 5.13% and a return on equity of 55.42%. Analysts predict that CDW Co. will post 9.41 earnings per share for the current year.

CDW Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th will be paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Tuesday, February 25th. CDW’s dividend payout ratio is presently 31.37%.

CDW declared that its board has approved a stock repurchase program on Wednesday, February 5th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the information technology services provider to purchase up to 2.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

About CDW

CDW Corporation provides information technology (IT) solutions in the United States, the United Kingdom, and Canada. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products and services, as well as integrated IT solutions, including on-premise and cloud capabilities across hybrid infrastructure, digital experience, and security.